The Dogecoin price has successfully completed the first retest of key support levels, indicating the potential for another significant rally. According to cryptocurrency analyst Trader Tardigrade, Dogecoin could hit an all-time high, as historical chart patterns suggest that a parabolic rally could be on the way.
In an X (formerly Twitter) post, trader Tardigrade announced that Dogecoin has completed the first retest of key support at $0.31. The analyst presented a chart that predicts Dogecoin's next surge and price action based on repeated historical trends.
This chart shows the price action of Dogecoin from 2014 to the present, highlighting periods of consolidation, breakouts, and parabolic growth. In previous market cycles, Dogecoin has shown similar price movements and market behavior. Each cycle is characterized by an extended period of sideways movement followed by a break above a key resistance level, retesting that resistance as a new support level.
The Dogecoin price has completed the final retest of the support level and where it will go next
In 2017, Dogecoin experienced a retest of the ** final support level around $0.00095, followed by a sharp rebound and the price rose to $0.02. During the last bull market in early 2021, a similar pattern was seen, with Dogecoin completing a retest of its and surging to an all-time high above $0.7.
Trader Tardigrade observed that Dogecoin has repeated this historical trend pattern again in the current cycle. The conclusion of a recent retest of its final support level supports his prediction and could mark the start of its next potential parabolic rally.
Based on repeated historical price movements, analysts predict that Dogecoin could hit a new all-time high of $4.50. This massive increase means that its current market price will increase by a staggering 1,306%.
The Dogecoin price has completed its final retest of the support level, where it is headed next 1
In a recent X post, trader Tardigrade noted the appearance of a symmetrical triangle on the Dogecoin chart. The Dogecoin price is currently trading within this triangle, indicating that the meme coin may undergo a period of consolidation before it is likely to break out.
Analysts revealed that the symmetrical triangle is a "solid foundation" for Dogecoin and represents a key consolidation area. The pink arrow in the chart indicates that Dogecoin will break the next price target.
Trader Tardigrade predicted that Dogecoin could break the upper trendline of the symmetrical triangle, which is expected to fuel its upward momentum. The analyst marks the upper trend line at $0.32, which is in line with the current market value of Dogecoin.
In the past month, Dogecoin has plummeted 25%, with the price falling from more than $0.40 to $0.32. Although market volatility is waning, the popular meme coin has been in a prolonged downturn and consolidation phase. Nonetheless, trader Tardigrade predicts that once such a predicted symmetric triangle break occurs, Dogecoin could rebound to $0.355.